News & Press

SEPTEMBER 2010

Partnership for Sustainable Communities

The Highridge Costa Companies

One of U.S.’ Largest, Most Respected Affordable Housing Developers

With a portfolio exceeding 27,000 units located in some 275 communities nationwide, Gardena, Calif.-based Highridge Costa companies are among America’s leading developers, asset managers, financiers, owners and operators of affordable workforce and senior apartment communities. The group consists of Highridge Costa Housing Partners, LLC and Highridge Costa Investors, LLC. Formerly known as Simpson Housing Solutions (and, prior to that, as Kaufman and Broad Multi-Housing, Inc.), HCHP and HCI were created in 2010 as a joint venture between Michael Costa, President and Chief Executive Officer and founder of the preceding companies, and Highridge Partners, a diversified, privately held investment company that has acquired, developed and/or financed assets totaling more than $7 billion.

HCHP/HCI and its predecessor firms have been leading the way in creating housing that makes a difference in the lives not only of its residents, but also the communities in which they live, since 1994. All of the company’s projects have been developed using Low Income Housing Tax Credits. As one of the nation’s most knowledgeable and experienced developers and asset managers in the highly specialized housing tax credit industry, HCHP/HCI continues to manage its vast portfolio, in which it maintains a general partner ownership interest.

The companies’ commitment to quality is evident throughout its portfolio of properties, many of which have earned a variety of industry design honors, including the “Pillars of the Industry” award from the National Assn. of Home Builders for the nation’s best affordable housing community on three separate occasions. Other awards the company has received include several Gold Nugget awards, Best of Seniors’ Housing, Multifamily Executive and Reader’s Choice awards. In addition, Mr. Costa received the Freddie Mac Multifamily Builder of the Year award in 2000 and, in 2003, the SAGE Award from the 50+ Housing Council. HCHP/ HCI continue to deliver attractive communities that are indistinguishable from, and often superior to marketrate apartments.

Thanks to its experience and resources, HCHP/HCI has become a valued partner with local governments and the nonprofit housing community in their efforts to meet local affordable housing needs. The firm has built a solid reputation for creativity as well as results, and it continues to create new relationships with cities, nonprofits and other housing partners seeking to meet their workforce and/or senior affordable housing needs.HCHP/HCI’s communities often serve larger social needs as well, helping to stabilize and reinvigorate neighborhoods in decline, or creating “infill” housing opportunities in urban and/or redevelopment areas. The company is also placing a greater emphasis than ever before on creating sustainable communities through the use of green building materials, high-efficiency fixtures, and the installation of photovoltaic cell arrays at a number of locations.

HCHP/HCI continues to be a recognized leader in the affordable housing industry, most recently ranking sixth among the top 50 affordable housing owners by Affordable Housing Finance magazine in 2012. To learn more, visit the company’s website, www.housingpartners.com.